Guam § 106204 - Capital Structure.
Full text of Guam Guam Code Annotated § 106204 — Capital Structure., with citation guidance and answers to common questions.
§ 106204. Capital Structure.
(a) A bank shall have such capital structure as the Board shall deem adequate but not less than the
following:
(1) Capital consisting of common stock as follows: Paid-up-in-cash of not less than $500,000.
(2) Paid-in surplus amounting to not less than 40% of its capital stock.
(b) The issuance of preferred stock shall be authorized by the Board only when it appears that
necessary capital cannot be obtained by the issuance of common stock. Preferred stock shall have such
preferences, powers and rights as the Board may approve. It shall not be retired without the approval of the
Board and the requirement of such approval shall be stated in the stock certificates, but the Board may give
advance approval to sinking funds payable exclusively out of earnings available for dividends.
(c) [Repealed.]
Frequently Asked Questions About Guam § 106204
What does Guam Code Annotated § 106204 cover?
Section 106204 ("Capital Structure.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 106204?
A common citation format is "Guam Code Annotated § 106204" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 106204 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.